Market Update · Markham & GTA · July 2026 · TRREB Data
July 2026 Market Update — Markham & GTA Real Estate
Markham sales pulled back 20.0% from June’s 360-sale high to 288 transactions in July, while the average price held nearly flat at $1,131,324 — a normal seasonal cooling rather than a change in direction. Region-wide, TRREB’s July Market Watch (released August 6) shows GTA new listings falling far faster than sales, keeping conditions tight even as summer volume eases. Here’s the full June-to-July breakdown, the GTA context behind it, and what it means heading into fall.
July 2026 confirmed that Markham’s June surge was a spike, not a new baseline. Sales eased back 20.0% month-over-month to 288 transactions, the average price slipped a modest 0.5% to $1,131,324, and new listings contracted 11.3% — a broadly quieter month across the board. Across the GTA, TRREB’s July Market Watch told a similar but more pointed story: sales down just 0.9% year-over-year while new listings collapsed 17.8%, tightening conditions enough that the board’s MLS® HPI Composite decline continued to shrink for a second straight month. Here is the complete Markham data, the GTA context behind it, and what it means if you’re buying or selling in York Region this summer.
Markham in July 2026 — The Headline Numbers
Three numbers define Markham’s July: a sharp pullback in transaction volume from June’s high, a price that barely moved, and a sales-to-new-listings ratio that eased but stayed well within a tight-market range — evidence of a seasonal summer pause rather than softening demand.
▼ −20.0% vs June
▼ −0.5% vs June
▼ −20.4% vs June
June vs July 2026 — Complete Markham Comparison
Every demand-side metric cooled in July, but proportionally — price barely moved while sales and new listings pulled back together, which is a very different pattern from a market losing value.
Metric | June 2026 | July 2026 | Month-over-Month |
|---|---|---|---|
Sales | 360 | 288 | ▼ −20.0% |
Dollar Volume | $409,123,534 | $325,821,404 | ▼ −20.4% |
Average Price | $1,136,454 | $1,131,324 | ▼ −0.5% |
Median Price | — | $1,062,500 | — |
New Listings | 794 | 704 | ▼ −11.3% |
Active Listings | 1,172 | 1,168 | ▼ −0.3% |
Avg. Days on Market (LDOM) | 43 days | 32 days | ▼ −25.6% |
Sales-to-New-Listings Ratio | 45.3% | 39.4% | ▼ −5.9 pts |
Avg. Sale-to-List Price Ratio | — | 99% | — |
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The key signal in this data: average days on market actually fell from 43 to 32 — homes that sold in July moved a full 11 days faster than in June, even though there were fewer of them. That combination (fewer sales, but faster ones, at a nearly unchanged price) points to a market that thinned out on volume without losing pricing power, which is the seasonal pattern TRREB typically expects between a strong June and a quieter July.
Reading the Volume Drop Alongside the Flat Price
A 20.0% drop in sales alongside a price that moved only 0.5% is not the same signal as a market correcting. Dollar volume fell 20.4% — almost exactly in line with the sales decline — which means the pullback was driven by fewer transactions closing, not by each transaction being worth meaningfully less. June’s 360 sales were an unusually strong month; July’s 288 is a reversion toward Markham’s typical summer pace, and the fact that homes that did sell moved 11 days faster than in June, at a sale-to-list ratio of 99%, suggests the buyers who stayed active in July were motivated ones.
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For buyers: new listings fell faster (−11.3%) than sales (−20.0%) declined, so the sales-to-new-listings ratio of 39.4% still points to a balanced-to-tight market rather than a buyer’s market opening up. For sellers: a 32-day average and a 99% sale-to-list ratio mean well-priced Markham homes are still moving quickly and close to asking — July’s quieter headline sales number has not translated into pricing leverage shifting to buyers.
Why Markham Cooled After June’s Surge
July’s pullback tracks closely with what TRREB’s own July 2026 Market Watch describes region-wide — a market that tightened on supply even as transaction volume normalized after a strong spring.
June Was the Outlier, Not July
June’s 360 sales were Markham’s strongest month of 2026 so far. A 20.0% pullback from an unusually high base is a reversion toward trend, not evidence of weakening demand on its own.
New Listings Fell Faster Than Sales, Again
GTA-wide new listings dropped 17.8% year-over-year in July, well ahead of the 0.9% dip in sales. Markham’s own new listings fell 11.3% month-over-month against a steeper 20.0% sales decline — supply is contracting on both counts.
The Price Decline Kept Shrinking
TRREB’s MLS® HPI Composite was down 4.6% year-over-year in July, easing further from June’s 5.4% annual decline — the same gradual bottoming pattern TRREB’s economists flagged after June’s report.
Buyers Are Still Waiting on Clarity
TRREB President Daniel Steinfeld pointed to many prospective buyers holding off for more certainty on tariffs, inflation, and borrowing costs before transacting — a hesitation that shows up as quieter summer volume even where underlying demand is intact.
The GTA Picture — July 2026 in Context
TRREB’s July 2026 Market Watch, released August 6, gives the region-wide backdrop for Markham’s local numbers. The headline: sales nearly flat year-over-year, new listings falling sharply, and a price decline that continues to shrink rather than deepen.
▼ −0.9% YoY
▼ −17.8% YoY
▼ −4.5% YoY
GTA Metric | June 2026 | July 2026 | Month-over-Month |
|---|---|---|---|
Sales | 6,770 | 5,995 | ▼ −11.4% |
New Listings | 17,282 | 14,484 | ▼ −16.2% |
Active Listings | — | 26,098 | −12.1% YoY |
Average Selling Price | $1,058,658 | $1,003,956 | ▼ −5.2% |
MLS® HPI Composite (YoY) | −5.4% | −4.6% | ▲ Decline easing |
Avg. LDOM / Avg. PDOM | — | 32 / 45 days | +6.7% / +12.5% YoY |
On a seasonally adjusted basis, TRREB reports July sales rose month-over-month against June while new listings fell over the same stretch, meaning market conditions continued to tighten through the summer even as the raw, non-adjusted sales count came down from June’s total. The MLS® HPI Composite also edged up slightly month-over-month on a seasonally adjusted basis, even though it remains lower than a year ago.
President Daniel Steinfeld noted that with sales now making up a larger share of listings, buyers have less room to negotiate than before — and that many would-be buyers are still waiting for more clarity on tariffs, inflation, and borrowing costs before committing to a purchase.
— Daniel Steinfeld, President, Toronto Regional Real Estate Board (TRREB)
Chief Information Officer Jason Mercer pointed to recent economic growth and jobs data coming in stronger than expected, which he said could help lift buyer confidence and encourage more home purchases in the months ahead, especially if prices stabilize through the fall.
— Jason Mercer, Chief Information Officer, Toronto Regional Real Estate Board (TRREB)
CEO John DiMichele identified restrictive municipal zoning, high taxes and fees, and slow approval timelines as ongoing drivers of housing costs across the GTA and Simcoe County, and called reforming them a key issue in the upcoming municipal election.
— John DiMichele, Chief Executive Officer, Toronto Regional Real Estate Board (TRREB)
What the GTA Numbers Mean for Markham Specifically
Markham’s July average price of $1,131,324 sits roughly $127,000 above the GTA-wide average of $1,003,956 — a premium consistent with what the community has commanded through the recovery, reflecting school catchments, mature streetscapes, trail access, and comparatively low property tax rates within the 905. What’s notable this month is that Markham’s benchmark price is down 7.65% year-over-year on the MLS® HPI Composite, a steeper annual decline than the GTA-wide 4.63% — a gap worth watching even as both continue to narrow month over month.
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The signal buyers should watch: GTA new listings fell 17.8% year-over-year in July while sales were down just 0.9% — supply is contracting far faster than demand. Markham’s own July sales-to-new-listings ratio of 39.4%, combined with a 99% sale-to-list price ratio and days on market that fell to 32, suggests the negotiating room buyers have had through the price correction is a shrinking window rather than a settled condition.
What July’s Numbers Mean for Buyers and Sellers in Markham
Here’s how the Kaizen Real Estate team reads July’s data in practical terms for buyers and sellers active in Markham right now.
“What stands out to me in July is how little the price moved — down half a percent — while sales normalized 20% off an unusually strong June. That’s a market settling, not softening. Anyone comparing July’s sales count directly to June’s without accounting for how strong June was is going to draw the wrong conclusion.”
Michael John Lau — Kaizen Real Estate
“A 32-day average and a 99% sale-to-list ratio tell buyers that well-priced Markham homes still aren’t sitting. If you’ve been waiting for July’s quieter headline number to open up real negotiating room, the underlying speed and pricing data say that window hasn’t arrived yet — and new listings are shrinking faster than demand is.”
Neeraj Moolchandani — Kaizen Real Estate
Now That It’s August — What the Rest of the Year Typically Brings
July’s numbers are now behind us, and Markham has entered the stretch of the calendar that historically sets up how the fall market opens. Here’s what August and September typically mean locally, read against what July’s data suggests about this particular year.
The Typical Summer Pause
Transaction volume usually softens further through late August as families travel and school-year urgency hasn’t yet built. July’s faster days-on-market figure suggests the buyers still shopping through late summer are motivated ones facing less competition for attention.
Setting Up the Fall Market
TRREB’s outlook for a stronger second half of 2026 means the fall rebound — historically the GTA’s second busiest season — opens against new listings already down close to 18% year-over-year. If that gap persists into September, sellers could carry more pricing leverage than they had a year ago.
Borrowing Costs Hold Steady
The Bank of Canada’s overnight rate held at 2.3% in July, with the prime rate unchanged at 4.5%. Steady rates remove one source of uncertainty heading into fall, even as buyers wait for more clarity on tariffs and inflation.
Fewer New Listings Ahead of Fall
Markham’s new listings fell 11.3% month-over-month in July on top of the GTA-wide 17.8% annual decline. A thinner pool of new inventory heading into the fall market historically favours sellers who list early and price accurately.
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The late-summer market truth for Markham: a quieter sales count doesn’t mean softer pricing power — July’s 99% sale-to-list ratio and 32-day average say otherwise. With new listings contracting faster than sales both locally and region-wide, the fall market that follows this stretch is more likely to open tight than to open with a buyer’s advantage.
Analyse Your Position — Kaizen Real Estate Can Help
Whether you’re timing a purchase against a market that’s normalizing rather than cooling, weighing whether to list before the fall rush, or tracking Markham’s recovery for investment purposes, the Kaizen Real Estate team brings the financial modelling depth both decisions require.
Michael John Lau
Michael’s CPA/CMA background means his market analysis covers the full financial picture behind a purchase or sale — all-in costs, carrying costs, and mortgage qualification at current rates for buyers; pricing grounded in monthly data rather than lagging benchmarks for sellers.
Neeraj Moolchandani
Neeraj translates the aggregate Markham numbers into street-level context — which pockets are seeing days-on-market compress fastest, and where July’s quieter sales count is a seasonal pause rather than a value decline.
Ready to Act Before the Fall Market Tightens Further?
Sales normalized in July, but homes are still moving fast and close to asking. Michael John Lau and Neeraj Moolchandani can walk you through exactly what July’s numbers mean for your specific situation. No obligation, first conversation is free.